UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22717
First Trust Exchange-Traded Fund VI |
(Exact name of registrant as specified in charter) |
120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Address of principal executive offices) |
W. Scott Jardine, Esq. First Trust Portfolios L.P. 120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Name and address of agent for service) |
Registrant’s telephone number, including area code: (630) 765-8000
Date of fiscal year end: December 31
Date of reporting period: December 31, 2020
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
(a) The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
For the Year Ended
December 31, 2020
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Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 12/31/20 | Inception (5/14/18) to 12/31/20 | Inception (5/14/18) to 12/31/20 | |
Fund Performance | |||
NAV | 4.73% | 4.18% | 11.39% |
Market Price | 4.73% | 4.20% | 11.44% |
Index Performance | |||
Nasdaq Dorsey Wright DALI 1 Index | 4.95% | 4.45% | 12.15% |
S&P 500® Index | 18.40% | 15.09% | 44.77% |
Bloomberg Barclays U.S. Aggregate Bond Index | 7.51% | 7.06% | 19.69% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value July 1, 2020 | Ending Account Value December 31, 2020 | Annualized Expense Ratio Based on the Six-Month Period (a) | Expenses Paid During the Six-Month Period (a)(b) | |
First Trust Dorsey Wright DALI 1 ETF (DALI) | ||||
Actual | $1,000.00 | $1,263.60 | 0.30% | $1.71 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.63 | 0.30% | $1.53 |
(a) | Annualized expense ratio and expenses paid during the six-month period do not include fees and expenses of the underlying funds in which the Fund invests. |
(b) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (July 1, 2020 through December 31, 2020), multiplied by 184/366 (to reflect the six-month period). |
Shares | Description | Value | ||
EXCHANGE-TRADED FUNDS (a) – 100.0% | ||||
Capital Markets – 100.0% | ||||
151,818 | First Trust Consumer Discretionary AlphaDEX® Fund | $7,724,500 | ||
34,942 | First Trust Dow Jones Internet Index Fund (b) | 7,415,741 | ||
106,739 | First Trust Large Cap Growth AlphaDEX® Fund | 10,315,257 | ||
277,146 | First Trust Nasdaq Transportation ETF | 7,776,024 | ||
56,836 | First Trust NASDAQ-100-Technology Sector Index Fund | 7,847,346 | ||
184,578 | First Trust Small Cap Growth AlphaDEX® Fund | 11,375,542 | ||
75,044 | First Trust Technology AlphaDEX® Fund | 8,391,420 | ||
Total Investments – 100.0% | 60,845,830 | |||
(Cost $58,268,746) (c) | ||||
Net Other Assets and Liabilities – 0.0% | 7,536 | |||
Net Assets – 100.0% | $60,853,366 |
(a) | Represents investments in affiliated funds. |
(b) | Non-income producing security. |
(c) | Aggregate cost for federal income tax purposes was $58,269,195. As of December 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $2,576,635 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $0. The net unrealized appreciation was $2,576,635. |
Total Value at 12/31/2020 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Exchange-Traded Funds* | $ 60,845,830 | $ 60,845,830 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
ASSETS: | |
Investments, at value - Affiliated (Cost $58,268,746) | $ 60,845,830 |
Cash | 14,324 |
Receivables: | |
Fund shares sold receivable | 3,266,902 |
Total Assets | 64,127,056 |
LIABILITIES: | |
Payables: | |
Investment securities purchased | 3,266,473 |
Investment advisory fees | 7,217 |
Total Liabilities | 3,273,690 |
NET ASSETS | $60,853,366 |
NET ASSETS consist of: | |
Paid-in capital | $ 66,444,318 |
Par value | 28,000 |
Accumulated distributable earnings (loss) | (5,618,952) |
NET ASSETS | $60,853,366 |
NET ASSET VALUE, per share | $21.73 |
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 2,800,002 |
INVESTMENT INCOME: | ||
Dividends - Unaffiliated | $ 184,901 | |
Dividends - Affiliated | 151,859 | |
Interest | 107 | |
Total investment income | 336,867 | |
EXPENSES: | ||
Investment advisory fees | 85,882 | |
Total expenses | 85,882 | |
NET INVESTMENT INCOME (LOSS) | 250,985 | |
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||
Net realized gain (loss) on: | ||
Investments - Unaffiliated | 721,971 | |
Investments - Affiliated | (6,338,852) | |
In-kind redemptions - Unaffiliated | 171,188 | |
In-kind redemptions - Affiliated | (2,769,973) | |
Net realized gain (loss) | (8,215,666) | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments - Affiliated | (3,327,376) | |
NET REALIZED AND UNREALIZED GAIN (LOSS) | (11,543,042) | |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(11,292,057) |
Year Ended 12/31/2020 | Year Ended 12/31/2019 | ||
OPERATIONS: | |||
Net investment income (loss) | $ 250,985 | $ 327,975 | |
Net realized gain (loss) | (8,215,666) | (1,069,011) | |
Net change in unrealized appreciation (depreciation) | (3,327,376) | 12,981,839 | |
Net increase (decrease) in net assets resulting from operations | (11,292,057) | 12,240,803 | |
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||
Investment operations | (247,410) | (328,246) | |
Return of capital | — | (279) | |
Total distributions to shareholders | (247,410) | (328,525) | |
SHAREHOLDER TRANSACTIONS: | |||
Proceeds from shares sold | 51,284,688 | 28,090,087 | |
Cost of shares redeemed | (53,677,302) | (6,094,811) | |
Net increase (decrease) in net assets resulting from shareholder transactions | (2,392,614) | 21,995,276 | |
Total increase (decrease) in net assets | (13,932,081) | 33,907,554 | |
NET ASSETS: | |||
Beginning of period | 74,785,447 | 40,877,893 | |
End of period | $ 60,853,366 | $ 74,785,447 | |
CHANGES IN SHARES OUTSTANDING: | |||
Shares outstanding, beginning of period | 3,550,002 | 2,400,002 | |
Shares sold | 2,350,000 | 1,450,000 | |
Shares redeemed | (3,100,000) | (300,000) | |
Shares outstanding, end of period | 2,800,002 | 3,550,002 |
Year Ended December 31, | Period Ended 12/31/2018 (a) | ||||
2020 | 2019 | ||||
Net asset value, beginning of period | $ 21.07 | $ 17.03 | $ 19.93 | ||
Income from investment operations: | |||||
Net investment income (loss) | 0.27 | 0.09 | 0.03 | ||
Net realized and unrealized gain (loss) | 0.66 | 4.04 | (2.90) | ||
Total from investment operations | 0.93 | 4.13 | (2.87) | ||
Distributions paid to shareholders from: | |||||
Net investment income | (0.27) | (0.09) | (0.03) | ||
Return of capital | — | (0.00) (b) | — | ||
Total distributions | (0.27) | (0.09) | (0.03) | ||
Net asset value, end of period | $21.73 | $21.07 | $17.03 | ||
Total return (c) | 4.73% | 24.29% | (14.43)% | ||
Ratios to average net assets/supplemental data: | |||||
Net assets, end of period (in 000’s) | $ 60,853 | $ 74,785 | $ 40,878 | ||
Ratio of total expenses to average net assets (d) | 0.30% | 0.30% | 0.30% (e) | ||
Ratio of net investment income (loss) to average net assets | 0.88% | 0.50% | 0.21% (e) | ||
Portfolio turnover rate (f) | 144% | 31% | 34% |
(a) | Inception date is May 14, 2018, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | The Fund indirectly bears its proportionate share of fees and expenses incurred by the underlying funds in which the Fund invests. This ratio does not include these indirect fees and expenses. |
(e) | Annualized. |
(f) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Security Name | Shares at 12/31/2020 | Value at 12/31/2019 | Purchases | Sales | Change in Unrealized Appreciation (Depreciation) | Realized Gain (Loss) | Value at 12/31/2020 | Dividend Income | ||||||
First Trust Consumer Discretionary AlphaDEX® Fund | 151,818 | $ — | $ 7,428,076 | $ (16,743) | $ 313,044 | $ 123 | $ 7,724,500 | $ 7,318 | ||||||
First Trust Dow Jones Internet Index Fund | 34,942 | 9,335,091 | 7,870,094 | (8,906,566) | (168,949) | (713,929) | 7,415,741 | — | ||||||
First Trust Financials AlphaDEX® Fund | — | 9,712,069 | 557,544 | (7,586,112) | (343,465) | (2,340,036) | — | — | ||||||
First Trust Health Care AlphaDEX® Fund | — | — | 8,113,087 | (7,831,451) | — | (281,636) | — | — | ||||||
First Trust Large Cap Growth AlphaDEX® Fund | 106,739 | 12,962,697 | 10,787,435 | (11,548,623) | (703,120) | (1,183,132) | 10,315,257 | 45,268 | ||||||
First Trust Nasdaq Transportation ETF | 277,146 | — | 7,496,572 | (16,910) | 296,277 | 85 | 7,776,024 | 10,405 | ||||||
First Trust NASDAQ-100- Technology Sector Index Fund | 56,836 | 10,389,880 | 8,147,828 | (9,416,753) | (1,810,156) | 536,547 | 7,847,346 | 23,219 | ||||||
First Trust Small Cap Growth AlphaDEX® Fund | 184,578 | 12,987,701 | 11,868,046 | (10,198,475) | 802,286 | (4,084,016) | 11,375,542 | 10,512 | ||||||
First Trust Technology AlphaDEX® Fund | 75,044 | 10,141,440 | 8,553,693 | (9,009,978) | (1,417,143) | 123,408 | 8,391,420 | 3,600 | ||||||
First Trust Utilities AlphaDEX® Fund | — | 9,197,703 | 549,133 | (8,284,447) | (296,150) | (1,166,239) | — | 51,537 | ||||||
$74,726,581 | $71,371,508 | $(72,816,058) | $(3,327,376) | $(9,108,825) | $60,845,830 | $151,859 |
Distributions paid from: | 2020 | 2019 |
Ordinary income | $247,410 | $328,246 |
Capital gains | — | — |
Return of capital | — | 279 |
Undistributed ordinary income | $3,575 |
Accumulated capital and other gain (loss) | (8,199,162) |
Net unrealized appreciation (depreciation) | 2,576,635 |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | ||
$— | $2,609,500 | $(2,609,500) |
Dividends Received Deduction | Qualified Dividend Income | |
70.16% | 70.88% |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term • Since Inception | Physician; Officer, Wheaton Orthopedics; Limited Partner, Gundersen Real Estate Limited Partnership (June 1992 to December 2016) | 190 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 190 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 190 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services) | 190 | None |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 190 | None |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer (January 2016 to Present), Controller (January 2011 to January 2016), Senior Vice President (April 2007 to January 2016), First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer (January 2016 to Present), BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President (July 2016 to Present), Vice President (April 2012 to July 2016), First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
• | Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms; |
• | Information about your transactions with us, our affiliates or others; |
• | Information we receive from your inquiries by mail, e-mail or telephone; and |
• | Information we collect on our website through the use of “cookies”. For example, we may identify the pages on our website that your browser requests or visits. |
• | In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers. |
• | We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud). |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
(b) Not applicable.
Item 2. Code of Ethics.
(a) The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(c) There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description.
(d) The registrant, during the period covered by this report, has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.
(e) Not applicable.
(f) A copy of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller is filed as an exhibit pursuant to Item 13(a)(1).
Item 3. Audit Committee Financial Expert.
As of the end of the period covered by the report, the registrant’s Board of Trustees has determined that Thomas R. Kadlec and Robert F. Keith are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is “independent,” as defined by Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) Audit Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $15,750 for the fiscal year ended December 31, 2019 and $18,000 for the fiscal year ended December 31, 2020.
(b) Audit-Related Fees (Registrant) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended December 31, 2019 and $0 for the fiscal year ended December 31, 2020.
Audit-Related Fees (Investment Adviser and Distributor) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended December 31, 2019 and $0 for the fiscal year ended December 31, 2020.
(c) Tax Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant were $2,925 for the fiscal year ended December 31, 2019 and $10,750 for the fiscal year ended December 31, 2020. These fees were for tax consultation and/or tax return preparation.
Tax Fees (Investment Adviser and Distributor) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant’s adviser and distributor were $0 for the fiscal year ended December 31, 2019 and $0 for the fiscal year ended December 31, 2020.
(d) All Other Fees (Registrant) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended December 31, 2019 and $0 for fiscal year ended December 31, 2020.
All Other Fees (Investment Adviser and Distributor) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant’s investment adviser and distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended December 31, 2019 and $0 for the fiscal year ended December 31, 2020.
(e)(1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.
Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the “Committee”) is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.
The Committee is also responsible for the pre-approval of the independent auditor’s engagements for non-audit services with the registrant’s adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant, subject to the de minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the registrant’s adviser (other than any sub-adviser whose role is primarily portfolio management and is sub-contracted with or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor’s independence.
(e)(2) The percentage of services described in each of paragraphs (b) through (d) for the registrant and the registrant’s investment adviser and distributor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(C) or paragraph(C)(7)(ii) of Rule 2-01 of Regulation S-X are as follows:
Registrant: Adviser and Distributor:
(b) 0% (b) 0%
(c) 0% (c) 0%
(d) 0% (d) 0%
(f) The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent.
(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal year ended December 31, 2019 were $104,730 for the Distributor, $75,670 for the Advisor, and $2,925 for the Registrant; and for the fiscal year ended December 31, 2020 were $29,500 for the Distributor, $23,200 for the Advisor and $10,750 for the Registrant.
(h) The registrant’s audit committee of its Board of Trustees has determined that the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
Items 5. Audit Committee of Listed Registrants.
The registrant has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. The audit committee of the registrant is comprised of: Richard E. Erickson, Thomas R. Kadlec, Robert F. Keith and Niel B. Nielson.
Item 6. Investments.
(a) | The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407 (c) (2) (iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22 (b) (15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
(a) | Not applicable |
(b) | Not Applicable |
Item 13. Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not Applicable |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | First Trust Exchange-Traded Fund VI |
By (Signature and Title)* | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date | March 11, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date | March 11, 2021 |
By (Signature and Title)* | /s/ Donald P. Swade | |||
Donald P. Swade, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date | March 11, 2021 |